Ionic Rare Earths Limited (ASX: IXR) has announced that the Ugandan Directorate of Geological Survey and Mines (DGSM) have provisionally granted the Stage 1 large scale mining licence (LML00334) over retention licence (RL) 1693 for the Makuutu Heavy Rare Earths Project.
This represents the first large scale mining licence to be awarded in Uganda under the Mining Act 2022, which was announced on the Ugandan Mining Cadastre portal. The Ugandan Minister of Energy and Mineral Development (MEMD), the honourable Dr Ruth Nankabirwa Ssentamu, is expected to sign the documents within a week from 28 December, prior to gazetting.
Ionic Rare Earths managing director, Tim Harrison, said the provisional award is part of the official commitment from the Government of the Republic of Uganda and clears the path for the Makuutu Project and the ongoing development of Uganda’s mining industry.
“This is an important step forward for Ionic Rare Earths in mining, refining, and recycling the heavy rare earths critical for the energy transition, advanced manufacturing, and defence,” Harrison said.
“This reinforces the Makuutu Heavy Rare Earth Project as one of the world’s largest and most advanced development-ready heavy rare earth element assets, and we look forward to progressing the next steps and commissioning our Demonstration Plant at Makuutu.”
The mining licence approval will be the first large scale mining licence awarded in Uganda and paves the way for further supply chain engagement to support sustainable, secure, and traceable magnet and heavy rare earth supply to the new economy.
The Makuutu Demonstration Plant continues to advance, with first mixed rare earth carbonate (MREC) on track for Q1 2024. IonicRE has reached an agreement with its partners in Rwenzori Rare Metals Ltd to move up to a 94% interest in Makuutu and remains the most advanced Ionic adsorption clay project in development today with product not committed to China, and available to supply new supply chains looking to decouple sourcing from existing sources.
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